National Bank Financial Equities Analysts Reduce Earnings Estimates for Gildan Activewear Inc. (TSE:GIL)

Gildan Activewear Inc. (TSE:GIL) (NYSE:GIL) – National Bank Financial cut their Q2 2024 EPS estimates for Gildan Activewear in a research note issued to investors on Wednesday, May 1st. National Bank Financial analyst V. Shreedhar now forecasts that the company will post earnings per share of $1.06 for the quarter, down from their prior forecast of $1.13. The consensus estimate for Gildan Activewear’s current full-year earnings is $4.01 per share. National Bank Financial also issued estimates for Gildan Activewear’s Q3 2024 earnings at $1.18 EPS, FY2024 earnings at $4.10 EPS, Q1 2025 earnings at $0.74 EPS and Q3 2025 earnings at $1.29 EPS.

Gildan Activewear (TSE:GIL) (NYSE:GIL) last issued its quarterly earnings data on Wednesday, February 21st. The company reported C$1.02 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.99 by C$0.03. Gildan Activewear had a return on equity of 27.79% and a net margin of 16.70%. The business had revenue of C$1.07 billion during the quarter, compared to analysts’ expectations of C$1.02 billion.

GIL has been the subject of several other research reports. Desjardins raised their price target on shares of Gildan Activewear from C$53.00 to C$55.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Royal Bank of Canada lifted their target price on Gildan Activewear from C$39.00 to C$41.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, National Bankshares increased their price target on Gildan Activewear from C$52.00 to C$58.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$47.00.

Gildan Activewear Stock Performance

TSE GIL opened at C$44.79 on Monday. The company has a market cap of C$7.55 billion, a P/E ratio of 10.87, a P/E/G ratio of 2.70 and a beta of 1.62. Gildan Activewear has a 1-year low of C$36.42 and a 1-year high of C$52.80. The company has a debt-to-equity ratio of 55.97, a current ratio of 2.33 and a quick ratio of 0.87. The stock has a 50-day moving average of C$48.24 and a two-hundred day moving average of C$46.25.

Gildan Activewear Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Thursday, May 23rd will be issued a $0.277 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.11 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Gildan Activewear’s previous quarterly dividend of $0.28. Gildan Activewear’s dividend payout ratio is presently 26.70%.

About Gildan Activewear

Gildan Activewear Inc manufactures and sells various apparel products in the United States, North America, Europe, Asia-Pacific, and Latin America. It provides various activewear products, including T-shirts, fleece tops and bottoms, and sports shirts under the Gildan, Gildan Performance, Gildan Hammer, Glidan Softstyle, Gildan Heavy Cotton, Gildan Ultra Cotton, Gildan DryBlend, Gildan HeavyBlend, Comfort Colors, and American Apparel brands.